Hope Tax Day went by well for all of you!! (Old but Gold)

No, income taxes are traditionally taken out of each paycheck, however, by April 15th you must submit forms that specify: “this is how much I made this year, this is how much you (Gov’t) took out already, this is how much I actually owe based on how much I made.”

If they took out too much, you get money back, if they took out too little you need to pay the difference.

So the vast majority (in most cases, excepted for getting income from selling assets, etc.) of your tax should already be paid. This is of course assuming most of your income is from your paycheck and not from selling stocks (short / long term capital gains, other assets, etc.) it can get complicated fast.

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